Straits Asia +4.4% As Takeover Hopes Linger

0330 GMT [Dow Jones] Straits Asia Resources +4.4% at S$0.825, extending Thursday’s 7.5% gain, as investors continue to bet coal miner will receive takeover offer after major holder Straits Resources says several parties interested in its 47% stake. “The potential divestment should provide share price support amidst deteriorating sector fundamentals,” says Goldman Sachs; notes coal producers in Indonesia may be interested parties since SAR’s assets all based there. But volume of just over 15 million shares vs yesterday’s 50.3 million suggests less aggressive buying as players preferring not to chase up share price too much since there’s no guarantee of firm deal. 40-day moving average of around S$0.87 may offer resistance. (FKH)